Stevens Capital Management LP Makes New Investment in U.S. Bancorp (NYSE:USB)

Stevens Capital Management LP acquired a new stake in U.S. Bancorp (NYSE:USB - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,262 shares of the financial services provider's stock, valued at approximately $469,000.

A number of other hedge funds and other institutional investors have also modified their holdings of USB. Quantinno Capital Management LP increased its stake in U.S. Bancorp by 24.8% in the third quarter. Quantinno Capital Management LP now owns 94,867 shares of the financial services provider's stock valued at $4,338,000 after purchasing an additional 18,842 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in U.S. Bancorp by 1.7% in the third quarter. Royal London Asset Management Ltd. now owns 1,242,645 shares of the financial services provider's stock valued at $56,826,000 after buying an additional 20,374 shares during the last quarter. Prana Capital Management LP grew its position in shares of U.S. Bancorp by 20.0% during the third quarter. Prana Capital Management LP now owns 2,585,692 shares of the financial services provider's stock worth $118,244,000 after acquiring an additional 431,389 shares during the last quarter. Morse Asset Management Inc acquired a new stake in U.S. Bancorp during the 3rd quarter worth $229,000. Finally, IHT Wealth Management LLC increased its stake in U.S. Bancorp by 6.4% in the third quarter. IHT Wealth Management LLC now owns 11,635 shares of the financial services provider's stock valued at $529,000 after purchasing an additional 697 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on USB shares. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 target price on the stock. in a research note on Thursday, October 24th. Piper Sandler upped their price target on U.S. Bancorp from $52.00 to $58.00 and gave the stock a "neutral" rating in a research note on Tuesday. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. Finally, Oppenheimer lifted their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $52.72.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock traded up $0.03 on Friday, hitting $52.15. The company's stock had a trading volume of 4,683,477 shares, compared to its average volume of 8,253,200. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $81.36 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 3.07 and a beta of 1.03. The firm has a fifty day moving average price of $48.99 and a 200-day moving average price of $44.73. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period in the prior year, the business earned $1.05 earnings per share. The company's quarterly revenue was down 2.4% on a year-over-year basis. On average, equities research analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has initiated a stock buyback plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.50 dividend. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.84%. U.S. Bancorp's payout ratio is presently 61.16%.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.